BITCOIN CONSOLIDATION PATTERN | MULTI-MONTH PRICE FORECAST

I believe Bitcoin will not follow the price action from the previous cycle and instead carry out a consolidation, bullish pennant, equilibrium formation.

• Price in equilibrium pattern as it gets squeezed over the coming months
  
• RSI projection is heavily bearish
  
• 200WMA forecasted to intercept upwards sloping trend line for potential pivot point
  

Monthly MACD cross over, heavily bearish forecast for the coming months.


Conclusion: Bullish momentum halted for the short and medium term. Price to consolidate & volatility to weaken over the coming month(s). Price to swing and pivot between trend lines and squeeze before breaking out to the upside.